Economy & Innovation

Business
4:22 pm
Wed January 30, 2013

Now That Beef With Japan Is Over, Missouri's Economy Stands To Gain

Veronique LaCapra/St. Louis Public Radio

Japan's decision to ease restrictions on U.S. beef imports will provide a boost to the American meat industry, but tight supplies may limit how much exports can grow this year.

Beef producers hope to restore Japanese sales to where they were before the first case of mad cow disease was found in the United States in 2003.

Democratic Senator Claire McCaskill commended Japan’s decision to ease restrictions on U.S. beef imports, saying it will be a boost for Missouri's economy.

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Business
6:09 pm
Tue January 29, 2013

Twinkies And PBR Together? A Deal May Be Near

(via Flickr/sekimura)

The announcement from Hostess that it would be shutting down three of its bakeries (St. Louis, Seattle and Cincinnati) and then, shutting down as a company entirely, evoked a "Twinkie panic."

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St. Louis on the Air / Coal Protest
11:37 am
Tue January 29, 2013

Miners Protest In St. Louis Over Effects Of Patriot Coal Bankruptcy

Miners from across the country marching down Market St. in downtown St. Louis. They are protesting a Peabody Energy/Patriot Coal plan to cut pension and health care programs following Patriot's bankruptcy.
(Adam Allington/St. Louis Public Radio)

Hundreds of miners from across the country protested outside of St. Louis-based Peabody Energy on Tuesday.

The miners are accusing Peabody of orchestrating a bankruptcy in order to skip out on pension and healthcare benefits owed to some 10,000 retirees and their dependents.

At the heart of the dispute is Patriot Coal Corp., which was created by Peabody as a stand-alone company in 2007.  In creating Patriot, Peabody also transferred a hefty chunk of Peabody’s outstanding pension obligations onto Patriot’s books.

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Business
3:37 pm
Mon January 21, 2013

AB-InBev Rolls Out New "Black Crown" Budweiser

Budweiser Black Crwon
Credit Anheuser-Busch InBev

Budweiser Black Crown, the latest of Anheuser-Busch's higher-alcohol beers, will hit shelves across the country on Monday.  The beer has been sold in St. Louis for several weeks now.

The new recipe is the result of a challenge, called “Project 12” among the company’s 12 brewmasters.

The new take on classic Bud features a stronger hop flavor and higher alcohol content, about 6 percent.

Benj Steinman, editor of Beer Marketer’s Insights says the move comes as mass-market brands face increasing pressure from craft beer, wine and spirits.

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Rams Future in St. Louis
2:50 pm
Mon January 14, 2013

Rams, CVC Begin Arbitration

A look at the Rams proposal for the Edward Jones Dome.
Credit (Released by Mo. Atty. Gen. Chris Koster)

A panel of arbitrators in St. Louis is now weighing the future of the St. Louis Rams and the Edward Jones Dome.


The team and the owners of the dome, the St. Louis Convention and Visitors Commission, agreed to arbitration over plans to renovate the dome. The lease agreement requires the dome to be among the top quarter of all NFL stadiums by 2015 or the Rams can break the lease, raising concern they could leave St. Louis.

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Drought
6:00 am
Mon January 14, 2013

Low Water, High Anxiety On The River

Dave Heyel, chief financial officer of JB Marine Service in south St. Louis County, stands in front of the company's floating office that now sits completely out of the water.
Tim Lloyd St. Louis Public Radio

It seems like we’re constantly hearing about how the worst drought in decades is threatening barge shipping on the Mississippi River. 

One day we’re facing a shutdown, the next day they say commerce will keep rolling on the river.  

Here’s the latest: The Army Corp of Engineers says it’s done enough work to keep the waterway open until the end of this month.   

After that, though, no one is making any promises, and that uncertainty is giving the shipping industry a lingering headache and could end up with local companies cutting jobs.   

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Commentary
5:33 am
Mon January 14, 2013

TIF Financing Hurts Communities By Forsaking Crucial Property Taxes For Sales Taxes

David Stokes / Policy Analyst, Show-Me Institute
Show-Me Institute

Shrewsbury is the latest city within Saint Louis County to consider Tax Increment Financing (known as TIFs) to subsidize a new Walmart. TIFs have been ravaging our region for twenty years, despite strong evidence they don’t help the economy. A study of TIF use in Chicago suburbs found that cities that did not use TIF grew faster than those that did, while a study of TIF in Iowa found no evidence of economy-wide benefits from its use.

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Business
5:26 pm
Fri January 11, 2013

'Arch Tax' Approved By St. Louis Board Of Aldermen

Credit AP

A tax to generate funds to improve the Gateway Arch, as well regional parks and trails took a step forward in the St. Louis Board of Aldermen on Friday.

The so-called “Arch Tax” creates a 3/16th cent sales tax.  If approved by voters in St. Louis City and County the tax would raise $120 million for the Arch grounds.

It would also raise about $600 million for city and county parks as well as the Great Rivers Greenway park and trail district.

The bill passed overwhelmingly with 24 in favor, 3 against and 1 “present” vote.

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St. Louis County
9:47 am
Fri January 11, 2013

Shrewsbury Commission Opposes Subsidies For Walmart

(via Flickr/Walmart Corporate)

The Tax Increment Financing Commission of a St. Louis County town is opposing $15 million in subsidies for  a planned Walmart Super Center, but the project might still get the go-ahead.

The St. Louis Post-Dispatch reports the issue is generating strong feelings in Shrewsbury, where more than 200 people attended a commission meeting Wednesday night. Though the commission denied a recommendation for the subsidies, the Board of Aldermen will ultimately have final say, and many expect the board to override the commission.

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Business
1:07 pm
Wed January 9, 2013

Work In St. Louis? List Says You Should Be Happy About It

(via Flickr/Jessica.Tam)

Forbes has posted a list of the "Happiest And Unhappiest Cities To Work In Right Now" - with St. Louis in the mix.

Our Gateway City sits at number 9 on the positive side, between Trenton, N.J. and Salt Lake City.

Forbes reports that CareerBliss.com put the list together and that over 36,000 independent employee reviews were analyzed for the rankings.

Here's more about the methodology from Forbes:

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